The bright side of the market selloff

Before panicking over what a nasty day the market had on Monday, Jim Cramer thinks it is time to take a look at the bright side of the selloff.

The reality is that there has been an epic run recently, and investors were due for a bit of profit taking.

"Please don't pay too much attention to the naysayers who whine about how we don't have enough value in the stock market and how this decline in oil indicates that the global economy is doing much worse than we thought," the "Mad Money" host said.

When there is a broad, marketwide selloff, it is actually a great opportunity to buy a company that is not dependent on the larger macroeconomic issues. Cramer had a few suggestions on how investors can take advantage of the dip and purchase a few market gems.

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Traders on the floor of the New York Stock Exchange.

For instance—Nike, Starbucks and Disney are still winners despite the global environment. They are solid stocks that have all been longtime favorites of Cramer and were all down at some point on Monday. That's despite the fact that they have nothing to do with economic weakness and actually do better amid low oil prices.

Nike keeps raising the bar for product offerings that cannot be beat. The innovation comes from new designs and fabric, and it has strategically built a monopoly on innovation. Its 30 percent increase in direct-to-consumer orders exemplifies that success.

Starbucks shares many of the same principles as Nike. This stock stayed in the $70s for most of the year on fears related to coffee prices. However, CEO Howard Schultz blew that out of the water when he used his imagination to drive the stock up with the unveiling of the Starbucks Roastery.

Starbucks' innovation shows just how well its executives understand their customers. Even Cramer was so excited about the Roastery that he found himself tweeting pictures of it last week.

Disney also knows its customers, as its growing theme park numbers show. Disney's innovation is evidenced by its unparalleled portfolio of characters, which includes the misfits from "Guardians of the Galaxy" and the legendary cast of the "Star Wars" franchise.

"Now, on a day when we learn that the Ebola czar is retiring next March, we look back and recognize that dip as your last great chance to buy Disney before its next leg up," Cramer said.

With all three companies run by powerful and driven executives— Mark Parker, Howard Schultz and Bob Iger—they continue to exceed expectations. All three have proven that they can do well, even in bad times.